Artforum magazine has been acquired by Penske Media Corporation, the firm announced in a statement on Tuesday. ARTnews, Art in America, and more than 20 other media brands, such as Variety, Rolling Stone, Billboard, and WWD, are all owned by PMC.
The chairman and CEO of Penske Media, Jay Penske, praised Artforum for its “unparalleled excellence and authority in the art world.” He further stated, “Over the past 60 years, they have developed a globally recognized brand that defines a culture and a genre and has one of the few enlightening worldwide perspectives on art. The arduous work Tony, Danielle, Kate, and David put into making Artforum such a success has my utmost respect. I anticipate a successful future working with this incredibly skilled group.”
“Our top aim is to protect the continuous history of our print newspaper while assuring a vigorous digital expansion,” stated Artforum publisher Danielle McConnell. “We are happy to collaborate with Jay Penske, who has been aware of these goals from the beginning. The media infrastructure of PMC will deliver dynamic, enhanced for Artforum’s international community of artists, galleries, museums, and other valued partners.”
Founded in 1962, Artforum is a renowned international publication specializing in modern art. David Velasco, the magazine’s veteran editor, was appointed editor-in-chief in October 2017.
The magazine has published several ground-breaking articles under Velasco’s leadership, such as artist Nan Goldin’s 2018 essay about her opioid addiction, which inspired her to launch P.A.I.N. This activist campaign calls out the Sackler family for their role in the marketing of Oxycontin. Laura Poitras has transformed that endeavor into a lauded documentary. An essay by Hannah Black, Ciarán Finlayson, and Tobi Haslett regarding Warren Kanders’ participation in the biennial and his fortune’s connections to the manufacturing of riot gear and tear gas was published in 2019 by Artforum.
In order to “convey the discerning eclecticism that excites the magazine’s heart,” Artforum published a special anniversary issue in September of this year to commemorate its 60th anniversary.
The operations of Artforum will continue to be overseen by Publisher Danielle McConnell and Associate Publisher Kate Koza, with Editor David Velasco in charge of editorial projects. Anthony Korner, a longtime publisher, and stockholder in Artforum, will continue to serve as an ambassador for the magazine. Editorial independence between Artforum and other Penske Media brands, such as the current publications ARTnews and Art in America, will continue. The deal’s financial details weren’t made public.
Jay Penske established PMC in 2004. With ARTnews and Art in America, the business purchased its first art-related titles in 2018. Both publications were established in the early 20th century: Art in America was started in 1913, and ARTnews in 1902.
